The Hong Kong government has announced 120 billion Hong Kong dollars ($15.4 billion) worth of measures to support its economy, which has been dragged down by pro-democracy protests and the new coronavirus outbreak.

That planned spending would result in “a record high deficit” for the coming financial year, Hong Kong’s Financial Secretary Paul Chan said in his budget speech on Wednesday.

“Since January 2020, Hong Kong has come under the threat posed by the novel coronavirus outbreak, which further dealt a blow to the economy. We must take decisive measures to tackle the situation,” he said.

Chan outlined measures to help businesses, workers and households weather additional economic challenges posed by the virus outbreak. They include:

Low-interest loans for small- and medium-sized enterprises, with government guarantee

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